DataQuick analyst Andrew LePage said the spike occurred at this time of the year because noninvestor purchases typically lag during the holidays.

Absentee buying, particularly by investors, has been growing in recent years as prices fell and there were good bargains to be had in the condo and move-up market.

"There are still a lot of people that see significant upside in the market and are parking their cash in real estate," LePage said, since banks pay very low interest on deposits and stocks are volatile.

Another indicator of investor interest is found in the percentage of homes purchased without a mortgage. These all-cash buyers accounted for 33.8 percent of all purchases in January, just a 10th of a percentage point below the record set in December.

The pool of good deals may be slipping, according to other figures from DataQuick:

Foreclosure sales represented 16.3 percent of January sales, up from 12.4 percent from December but down from 27.3 percent in January 2012.

Short-sales -- homes sold at less than the outstanding mortgage balance -- dropped to 27.7 percent in January from 30 percent in December and 31.2 percent in January.

Jumbo loans -- traditionally above $417,000 and obtained by upper-end buyers - rose to 27.5 percent of sales in January from 17.7 percent a year earlier and 26.3 percent in December. More move-up buying signals a stabilization of prices since prospective homeowners do not usually buy in a falling market.